Banco De Sabadell Sa Ord (BNDSF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.078 Good morning all and welcome to the Sabadell results presentation for the first quarter 00:00:04.078 -- 00:00:05.741 2025. 00:00:05.741 -- 00:00:11.911 Today, we are joined by our CEO, César González Bueno, and our CFO, Sergio Palavecino. 00:00:11.911 -- 00:00:15.737 The presentation will take the same structure as previous quarters. 00:00:15.737 -- 00:00:21.266 Our CEO will begin by outlining the key developments of the quarter, followed by a discussion 00:00:21.266 -- 00:00:26.291 on the most significant topics. Next, our CFO will cover financial results and 00:00:26.291 -- 00:00:31.036 balance sheet developments before our CEO concludes with some closing remarks. 00:00:31.036 -- 00:00:35.021 Finally, we will open the floor for a live Q&A session. 00:00:35.021 -- 00:00:39.607 I will now hand over to César González Bueno to kick off our presentation. 00:00:39.607 -- 00:00:44.733 Thank you, Juk. Good morning, everyone. I will start going through the key elements 00:00:44.733 -- 00:00:47.720 of this quarter in slide 4. 00:00:47.720 -- 00:00:50.764 The strong momentum in commercial activity continues. 00:00:50.764 -- 00:00:55.971 Performing loans grew by 5% and customer funds increased by more than 6% 00:00:55.971 -- 00:01:00.758 on the year. Secondly, asset quality remains strong. 00:01:00.758 -- 00:01:05.902 The NPL ratio fell to a new low of 2.67%, 00:01:06.165 -- 00:01:10.871 which is 79 basis points less than in the previous year. 00:01:10.871 -- 00:01:14.433 This translates into a substantial reduction of the cost of risk. 00:01:14.433 -- 00:01:19.880 At the end of the first quarter, the group's total cost of risk stands at 35 00:01:19.880 -- 00:01:25.267 basis points. Thirdly, NII declined by 1.3% year-on-year 00:01:25.267 -- ...